Atkore (NYSE:ATKR) Downgraded by B. Riley to Neutral

B. Riley cut shares of Atkore (NYSE:ATKR) from a buy rating to a neutral rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $84.00 price target on the stock, down from their prior price target of $135.00.

ATKR has been the subject of a number of other reports. Loop Capital dropped their price target on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. KeyCorp dropped their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.00.

Atkore Price Performance

Shares of ATKR opened at $89.47 on Friday. Atkore has a 1-year low of $76.01 and a 1-year high of $194.98. The stock has a market cap of $3.21 billion, a PE ratio of 6.28 and a beta of 2.13. The firm has a 50-day simple moving average of $87.74 and a two-hundred day simple moving average of $113.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is currently 8.99%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Atkore by 12.0% during the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after buying an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after buying an additional 261,234 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Atkore by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after buying an additional 144,283 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after buying an additional 4,852 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after buying an additional 66,533 shares during the last quarter.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.